Almost true. But the posters are not the customers. They are the cattle. They make the product free of charge.
Few of the cattle will be willing to be charged to post or to read content. Plus, a libertarian model will make posting and viewing less appealing. And a shrinking number of posters and readers will reduce advertising revenues.
I don't think Musk has a clue about social media because he is himself no more socially aware than Mark Zuckerberg. He's bought himself a white elephant.